Mexico Central Bank Cuts GDP Growth Forecast

MEXICO CITY—In a setback for the government of President Enrique Peña Nieto, Mexico's central bank on Wednesday slashed its economic-growth forecast for this year after weak activity during the first quarter made it clear that Latin America's second-targest economy will expand less than expected.

The central bank cut its growth estimate for 2014 gross domestic product to a range of 2.3%-3.3%, compared with the previously forecast...